The role of open innovation in boosting alternative protein

Open innovation is a methodology that serves to attract talent, technology and new business models to develop more innovative products than those of the competition. Open innovation across the food sector is important when it comes to product research and development. 

Read our FULL blog post on the role of open innovation in powering the growth of alternative protein here. 

One area of the food industry that could definitely reap the benefits of open innovation is the development of alternative protein which has become increasingly more popular with consumers over the last few months as it offers sustainability and health benefits. Companies are now looking for ways to offer these solutions to meet new end consumer demands by working alongside startups to launch products.

Working with startups offers a number of perks for larger teams, including:
✔️ Process agility
✔️ Time management optimization
✔️ Revitalization of energy and motivation
✔️ Breakthrough to new markets

In return startups gain:
✔️ Extensive corporate know-how
✔️ Access to market
✔️Opportunity to raise capital
✔️ Increase in production capacity

Its a win-win for both parties!

There are lots of examples of larger companies seeking collaboration opportunities with more agile-minded startups. If you didn’t already know Singapore is fast becoming an innovation hub with the rise of disruptive new startups entering the circuit and it seems like corporations want part of the action. Givaudan and Bühler are set to open an innovation center together in Singapore later this year with the aim of investigating the potential of alternative protein, combining both their expertise in the industry provides the perfect opportunity for innovative new products to enter the market.

“Startups, universities and corporations must come together to innovate and find more sustainable ways of producing food. This is the goal of the innovation center where we have found a partner with common ideas to make this vision a reality,” said Bühler’s CTO, Ian Roberts.

*CALLING ALL SPANISH SPEAKERS* Want to know more about open innovation and the perks it offers for your company? Join our partners at Eatable Adventures next webinar “Accelerating the growth of the Food Industry: The power of open innovation”, which will take place on Thursday, June 18th at 17:00 (MAD), 10:00 (BOG), 11:00 (SCL) where they will be joined by Sejal Ravji, Open Innovation Director at Pascual Quality; María Paola Ríos, Innovation & Strategy Director at Team Foods and José Luis Cabañero, CEO and founder of Eatable Adventures, to share their companies open innovation experiences and insights and how it is powering them to develop the future models of their organizations.

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